HYGW icon

iShares High Yield Corporate Bond BuyWrite Strategy ETF
HYGW

Overview Fund Activity
30.27 USD
+0.03
0.1%
At close Updated Sep 12, 4:00 PM EDT
1 day
0.1%
5 days
0.07%
1 month
0.43%
3 months
-0.56%
6 months
-3.63%
Year to date
-4.78%
1 year
-7.4%
5 years
-23.37%
10 years
-23.37%
0
Funds holding %
of 7,462 funds
–
Analysts bullish %

Fund manager confidence

Based on 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)

291% more repeat investments, than reductions

Existing positions increased: 43 | Existing positions reduced: 11

1.28% more ownership

Funds ownership: 81.46% [Q1] → 82.73% (+1.28%) [Q2]

4% more capital invested

Capital invested by funds: $182M [Q1] → $190M (+$8.07M) [Q2]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 1 (+0) [Q2]

4% less funds holding

Funds holding: 67 [Q1] → 64 (-3) [Q2]

11% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 9

See Fund Rankings

Financial journalist opinion

Neutral
Seeking Alpha
5 days ago
HYGW: An Alternative Way To Optimize Income Flows From Buy-Write
HYGW delivers 2x the yield of HYG but faces 2x the capital decay risk from the capped upside of its buy-write strategy. Its structure makes returns asymmetric: in downturns, the price falls more than the premium increases. So is it an ETF to discard? In my view, it can still play a role in an income-oriented portfolio.
HYGW: An Alternative Way To Optimize Income Flows From Buy-Write
Neutral
Seeking Alpha
2 months ago
HYGW: Attractive ETF When Credit Spreads Are Tight
HYGW implements a passive strategy of holding the iShares iBoxx High Yield Corporate Bond ETF and systematically selling one-month covered call options on 100% of its holdings. While HYGW exhibits lower volatility than HYG, it has consistently underperformed HYG in normalized economic environments and during shallow market drawdowns. HYGW demonstrates its value during significant market stress or "true credit events" (like the March 2023 regional banking crisis), where the option premiums received significantly buffer the downside.
HYGW: Attractive ETF When Credit Spreads Are Tight
Negative
Seeking Alpha
7 months ago
LQDW And HYGW: Avoid These Buy-Write ETFs
Buy-write ETFs like LQDW and HYGW historically underperformed their underlying ETFs due to mechanical monthly covered Call strategies. LQDW and HYGW's make sense in very few scenarios, in most scenarios they either under-perform their underlying or incur losses. Investors should consider direct investments in LQD or HYG if they expect appreciation, or explore other high-income stocks and ETFs for better returns.
LQDW And HYGW: Avoid These Buy-Write ETFs
Negative
Seeking Alpha
9 months ago
HYGW: Avoid This Amortizing ETF
The iShares High Yield Corporate Bond Buywrite Strategy ETF writes covered calls on the HYG ETF to generate high distributions. The fund's strategy results in capped upside and uncapped downside, causing it to underperform the underlying HYG ETF over the long term. Given the monthly rolling of HYGW's covered calls and current low credit spreads, HYGW is likely to see capital losses as the economy weakens in the coming years.
HYGW: Avoid This Amortizing ETF
Positive
Seeking Alpha
1 year ago
HYGW: Covered Call High-Yield Bond ETF, Outstanding 13.3% Yield, Declining Share Price And Distributions
HYGW offers a strong 13.3% distribution yield by investing in high-yield corporate bonds and writing covered calls. The fund's strategy works best when high-yield rates are flat or increasing, worst when these decrease. At current rates and spreads, I do not foresee any significant decrease in high-yield rates moving forward.
HYGW: Covered Call High-Yield Bond ETF, Outstanding 13.3% Yield, Declining Share Price And Distributions
Positive
ETF Trends
1 year ago
Recapping BlackRock's Strong Fixed Income Flows
The U.S. ETF industry continues to evolve. In the first 10 months of 2023, fixed income ETFs gathered more than 40% share of the net inflows, despite representing just 20% share of the market.
See News Rankings
Charts implemented using Lightweight Charts™